Tag: My Safe Florida Home

Legislative Reforms and New Programs Drive Florida’s Insurance Rate Reductions

H. Cutner
Florida Insurance Rate Reductions

Florida Insurance Market Relief Gains Momentum Floridians may experience meaningful financial relief as recent insurance rate reductions are announced for both homeowners and drivers. While the newly proposed budget for fiscal year 2025-26 includes additional measures to lower costs moving forward, the current savings are largely the result of older legislative reforms that are only now beginning to yield results. Impact of Older Legislative Reforms Recent decreases in insurance rates can be traced back to a series of reforms passed across previous years aimed at addressing deep-seated issues in Florida’s…

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Could the Florida home insurance crisis end with wind mitigation investments?

G. Turner
Florida home insurance Crisis - Analyzing Stats

The property coverage ecosystem in the state does appear to be easing compared to the last dramatic years. While the Florida home insurance market looks like it may be leveling out, it remains clear that considerable funding is still required to harden homes in the state against the extreme winds that come with the increasingly common and severe hurricanes blowing through every year. This could help to prevent substantial losses for both policyholders and insurers, said risk experts. “Mitigation is a huge issue. If you think about how do you…

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